Schengen Visa - Longer then 90 days theory

I've been researching about the various visas required whilst travelling and I came across the Schengen Visa which allows people to remain in the Schengen Zone for upto and including 90 days within a 180 day period. After a bit of reading a thought came to mind in regards to possibility of exceeding the 90 days and I was hoping I could get someone to clarify if this is how it works.

Lets say you enter the Schengen area and remain there for 1 day, you then leave for 89 days and return for a further 90 days. Looking at this you have not exceeded the 90 day limit within the 180 day period. The following day the 180 day period resets and you are entitled to a further 90 days. If you were to take these 90 days in one hit you have essentially stayed in the Schengen region for 179 days, whilst not exceeding 90 days within the two 180 days periods.

There is, however, talk at the moment of a new type of "touring visa", allowing for stays up to a year, as long as the stay within each individual country remain shorter than 90 days in any 180 day period (though how they're ever going to check that remains anyone's guess). But I haven't heard anything yet as to the likelihood of it actually being implemented, and it's be 2015 at the very earliest for it to take effect.